AI debt concerns grow as ING reportedly seeks buyers for $500 million of data center loans
ING is reportedly seeking buyers for about $500 million in loans tied to 12 data center projects, including a $25 million portion linked to the Stargate project in New Mexico. The sale reflects growing lender concerns about debt exposure, construction delays and possible future restrictions on data center development.
ING is reportedly auctioning approximately $500 million in loans tied to 12 data center projects, with bids of at least $10 million due by Nov. 19. The portfolio includes a $25 million loan connected to the Stargate project in New Mexico, involving OpenAI, SoftBank and Oracle, as well as loans involving Vantage Data Centers and CyrusOne.
The reported sale comes as banks and other investors reassess the risks of financing the artificial intelligence infrastructure boom. Market strategists said lenders may be seeking to free up capital or reduce exposure amid concerns about high debt levels, uncertain returns, potential construction delays and the prospect of tighter data center restrictions or moratoriums in some states.